ASB KiwiSaver divest from illegal Israeli settlements or we switch!

All people should enjoy freedom, justice and equality. That includes Palestinians. Israel is occupying and colonising Palestinian land, and maintains an apartheid system of discrimination against Palestinians in the Occupied Palestinian Territories in violation of international law. 

We support the simple principle that Palestinians are entitled to the same rights as the rest of humanity, as called for by the Palestinian-led BDS movement.

Israel is only able to maintain its apartheid regime and to expand its illegal settlements because of material support from the international community, including through unethical investments by global financial institutions (including ASB and other New Zealand banks and funds).

According to research by Mindful Money, KiwiSaver funds' investments in companies financing and constructing illegal Israeli settlements in Palestine and arming Israel were up 20% in the first 5 months after October 2023. The research showed that our KiwiSavers have an estimated $200 million collectively invested in these companies.

Many of our KiwiSaver funds are invested in companies that are involved in Israel’s illegal occupation, meaning that through our retirement savings we are inadvertently helping to finance of Israel’s system of apartheid, the expansion of illegal settlements in the Westbank and East Jerusalem, and the genocide of the people of Gaza.

It’s time we pressure our KiwiSaver providers, beginning with ASB, to stop financing Israel’s apartheid, ongoing colonisation and genocide and divest from the illegal settlements. Together we can get them to do the right thing. 

Boycott action works - and is a powerful tool we can use to make big companies realise the cost of doing business with an apartheid state. 

Of all of New Zealand’s KiwiSaver funds, ASB has the most investments in Motorola Solutions Inc. 

Motorola Solutions Inc provides telecommunications, surveillance and military technology to the Israeli military and illegal Israeli settlements - effectively operating as the IDF’s technology arm and enabling the maintenance and expansion of these settlements. The company also provides technology for operating Israel’s checkpoints and separation wall, two key pieces of Israel's apartheid infrastructure.[1]

https://www.whoprofits.org//writable/uploads/old/uploads/2018/06/old/bab_al_shams_-_ahmad_al_bazz.jpg

Motorola Solutions Inc. have been included in the UN List businesses involved in activities that help maintain/enable Israeli settlements, which are illegal under international law. [2]

ASB has $14 million invested in Motorola Solutions Inc., making their KiwiSaver fund one of the biggest investors in the occupation in the top 10 KiwiSaver providers.

The International Court of Justice – the world’s highest court – recently declared that states, international organisations, investment corporations and all other institutions must not assist in maintaining the illegal situation created by Israel in the Occupied Palestinian Territories.[3]

ASB is currently complicit in Israel’s violations of human rights and international law through its investments in Motorola Solutions Inc. To avoid being an accomplice to this illegal activity, ASB must divest from Israeli apartheid.

In calling on ASB to divest from Motorola Solutions Inc. we are taking the lead from the Palestinian call for Boycott, Divestment and Sanctions as a form of non-violent pressure on Israel.

Both globally and here in Aotearoa, companies are realising that the investments in companies that sustain Israel's apartheid are unethical and are divesting. NZ Super Fund, KiwiSaver provider Simplicity, and most recently Ireland’s sovereign investment fund and French Insurance giant AXA have all divested from services due to their role in illegal settlements. Public pressure works!

We won’t stop with ASB’s investments in Motorola…

ASB and other New Zealand banks and KiwiSaver providers continue to maintain investments in other companies directly or indirectly involved in the maintenance and expansion of the illegal settlements, listed in the UN database.[4] 

So we are also calling on ASB and all other New Zealand banks and KiwiSaver providers to adopt policies that prohibit investments in the companies identified by the UN and get rid of any existing investments in these companies.

These financial institutions are on notice that we don’t want our money invested in Israel’s discrimination and colonisation. If they continue to bank on apartheid, we’ll stop banking with them!

It is more urgent and important than ever that our voices are heard loud and clear by decision-makers and to encourage others to join our growing movement.

References: 

[1] https://www.whoprofits.org/companies/company/3808? and https://wiki.stoparmingisrael.nz/motorola

[2] OHCHR update of database of all business enterprises involved in the activities detailed in paragraph 96 of the report of the independent international fact finding mission to investigate the implications of the Israeli settlements on the civil, political, economic, social and cultural rights of the Palestinian people throughout the Occupied Palestinian Territory, including East Jerusalem [30 June 2023].

[3] Legal Consequences Arising from the Policies and Practices of Israel in the Occupied Palestinian Territory, including East Jerusalem (Advisory Opinion) [2024].

[4] See for example: kiwisaver_investments_israel – Stop Arming Israel (stoparmingisrael.nz).

Photo credit: Motorola communication device used by the Israeli Police during the dispersal of a Palestinian demonstration Bab Al Shams, E1 Area | Jan 2013 | Photographed by Ahmad Al-Bazz, Activestills.